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CREATING A LEARNING SOCIETY

Bruce C. Greenwald Joseph E. Stiglitz

A New Approach to Growth, Development, and Social Progress

It has long been recognized that an improved standard of living results from advances in technology, not from the accumulation of capital. It has also become clear that what truly separates developed from less-developed countries is not just a gap in resources or output but a gap in knowledge. In fact, the pace at which developing countries grow is largely a function of the pace at which they close that gap.

To understand how countries grow and develop, it is essential to know how they learn and become more productive and what government can do to promote learning. In CREATING A LEARNING SOCIETY, Joseph E. Stiglitz and Bruce C. Greenwald explain why the production of knowledge differs from that of other goods and why market economies alone typically do not produce and transmit knowledge efficiently. They show how well-designed government trade and industrial policies can help create a learning society, and how poorly designed intellectual property regimes can retard learning. They also explain how virtually every government policy has effects, both positive and negative, on learning, a fact that policymakers must recognize. Among the provocative implications are that free trade may lead to stagnation whereas broad-based industrial protection and exchange rate interventions may bring benefits—not just to the industrial sector, but to the entire economy.

This edition was abridged by Joseph Stiglitz for international licensing purposes.

Joseph E. Stiglitz is a Professor at Columbia University and a member and former chair of Columbia University's Committee on Global Thought. He was the winner of the 2001 Nobel Prize for Economics. He served on President Clinton's Council of Economic Advisors, and then joined the World Bank as chief economist and senior vice president.

DIE INNOVATIVE GESELLSCHAFT
Wie Fortschritt gelingt und warum grenzenloser Freihandel die Wirtschaft bremst
Deutsch von Stephan Gebauer
[HC Econ 10/15]
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Published 2014-06-01 by Columbia University Press

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